Handling America’s Financial Literacy Crisis

What does it take to get a handle on finances when millions of people are buried in debt? The answer lies in saving, smart finances, and linking up with financial gurus like  JoJo (Josephine) Dries, Loan Officer, Highlands Residential Mortgage, Ltd.

“Most people have less than $100,000 in assets in retirement years and waste hundreds of thousands of dollars in interest expenses because they didn’t manage their mortgage and liabilities in the smartest way possible throughout their lives,” says Dries in a press release. “Along with two financial advisors and a Market Expert Realtor, I am aiming to directly address America’s financial literacy crisis with our free local event: ‘Home Ownership and Your Finances’.”

Dries added that according to the Consumer Financial Protection Bureau, over 27 million people with student loans qualify for reduced monthly payments or actual debt forgiveness.

“We address some great ways for consumers to approach this. There is $16.5 trillion in mortgage debt in America and $19.4 trillion in home equity – how can consumers best save on their monthly payments and utilize their home equity for their financial success? These are some of the questions that will be addressed during the event,” Dries added.

With 53% of adults described a “financially anxious,” with two in three families lacking in an emergency fund — and four in five adults experience barriers to homeownership — with fewer than one in five adults is confident in savings, could the lack of money be a sign to do something more for better financial management? Dries says yes.

“These statistics and more prove that we are sorely lacking on educating consumers on Financial Literacy and we aim to change that with our Fall Event Series,” says Dries.

“Home Ownership and Your Finances” takes place October 20, 2021, at 11:00am ET at the Troy Chamber of Commerce Auditorium, located at: 2125 Butterfield Dr. #100 N, Troy, MI 48084. To sign up for the Seminar, please email: jdries@highlandsmortgage.com. Some topics covered will be: Impacts of COVID on the Housing Market, Should You Pull Equity for Home Purchase, Home Ownership in Retirement, Creative Ways to Win a Bid on Home Purchase, Evolution of Reverse Mortgages, and many more topics relevant to the current market.

The markets and interest rates can be hard to understand and with her more than 20 years in the Mortgage Industry, she enjoys creating solutions for her clients and those who have general questions about a home loan. Dries can be reached at 734-385-6170 or jdries@highlandsmortgage.com.

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